Crisis in Europe avoided. Now we look to the coming year-end tax/debt crisis in the US.

What's improving in the jobs data is what didn't need to improve. The hard tasks remain.

The worst thing that can happen to Europe now is that everything goes perfectly.

Bernanke emerges as a hawkish bulwark on the FOMC: if not for him, we'd have QE3 now.

Spain is Europe's post-crisis laggard. If reform is sustained, it can catch up.

...without Apple, S&P 500 forward earnings wouldn't be at new highs -- they'd be off 2.4%.

The honeymoon is ending for Monti and Rajoy, as labor reforms get politically difficult.

Apple mattered to Q1 performance -- but it says nothing about valuation, or faster growth.

The ECB stands pat -- apparently markets will just have to wait to see if LTRO worked.

At last a correction in stocks, and in the belief that the labor market has turned the corner.